First State Investments UK CEO quits

UK – Rob Adams, chief executive officer of First State Investments UK, international funds subsidiary of the Commonwealth Bank of Australia has resigned.

Adams, who held the role of chief executive for almost three year has decided to return to Australia for personal reasons.

Upon leaving at the end of June, he will be replaced on an interim basis by Stuart Grimshaw, group executive of investment and insurance services for parent company, Commonwealth Bank of Australia, to whom Adams reports.

A spokeswoman for First State Investments said that the company are looking both internally and externally for a replacement and hope to appoint somebody in the next six to eight weeks.

First State Investments UK has 5 billion pounds (7 billion euros) in assets under management.

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